MarineMax (NYSE:HZO) Stock Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• MarineMax shares exceeded their 200-day moving average of $24.03, reaching a high of $26.35 during trading.
• Wall Street analysts have mixed ratings for MarineMax, with one downgrading it to "sell" while others maintain "buy" ratings and a price target increase to $32.00.
• The company's latest earnings report showed a significant miss in EPS at $0.49 compared to expectations of $1.16, and a revenue decline of 13.3% year-over-year.

MarineMax, Inc. (NYSE:HZO - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $24.03 and traded as high as $26.35. MarineMax shares last traded at $26.08, with a volume of 323,111 shares.

Wall Street Analyst Weigh In

Several research analysts recently commented on HZO shares. Wall Street Zen downgraded shares of MarineMax from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Citigroup reissued a "buy" rating and issued a $32.00 price target (up from $29.00) on shares of MarineMax in a report on Monday, June 16th. Finally, B. Riley reissued a "buy" rating on shares of MarineMax in a report on Friday, July 25th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $33.25.

MarineMax Stock Performance

The company's fifty day simple moving average is $24.89 and its 200 day simple moving average is $24.03. The company has a current ratio of 1.21, a quick ratio of 0.29 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $559.68 million, a P/E ratio of -19.46 and a beta of 1.54.

MarineMax (NYSE:HZO - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The specialty retailer reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.16 by ($0.67). MarineMax had a positive return on equity of 2.63% and a negative net margin of 1.15%. The company had revenue of $657.16 million for the quarter, compared to the consensus estimate of $737.82 million. During the same period in the prior year, the firm posted $1.51 earnings per share. The business's revenue was down 13.3% on a year-over-year basis. As a group, sell-side analysts forecast that MarineMax, Inc. will post 2.41 earnings per share for the current fiscal year.

Institutional Trading of MarineMax

Hedge funds have recently made changes to their positions in the stock. Invesco Ltd. lifted its holdings in shares of MarineMax by 17.3% during the 4th quarter. Invesco Ltd. now owns 347,481 shares of the specialty retailer's stock worth $10,060,000 after acquiring an additional 51,352 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of MarineMax by 3.2% during the 1st quarter. Principal Financial Group Inc. now owns 99,611 shares of the specialty retailer's stock worth $2,142,000 after acquiring an additional 3,107 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of MarineMax during the 1st quarter worth $726,000. GAMMA Investing LLC lifted its holdings in shares of MarineMax by 3,886.6% during the 1st quarter. GAMMA Investing LLC now owns 23,242 shares of the specialty retailer's stock worth $500,000 after acquiring an additional 22,659 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of MarineMax during the 4th quarter worth $572,000. 92.85% of the stock is owned by institutional investors.

MarineMax Company Profile

MarineMax, Inc operates as a recreational boat and yacht retailer and superyacht services company in the United States. It operates in two segments, Retail Operations and Product Manufacturing. The company sells new and used recreational boats, including pleasure and fishing boats, mega-yachts, yachts, sport cruisers, motor yachts, e-power yachts, pontoon boats, ski boats, jet boats, and other recreational boats.

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